Refinancing vs Trading in Your Car

If you have thought about trading in your car, you are not alone. Most people have some issues paying back the car note, which is why people are buying cars outright or leasing them with low monthly payments. Getting into a car is not that difficult if you have the right credit score, but if you are on the verge of losing the car, then you may want to look at options for trade-ins and refinance before it gets repossessed.

Refinancing a vehicle means that your loan terms will change. You may be offered a lower interest rate by your loan company, or you could also have your loan terms extended. In each of these cases, you may end up paying more than the car is worth. However, if you trade-in, you will have to accept a lower cost vehicle based on the equity of what you put into the original vehicle.

You can see all of your options at Sale Kia.



Categories: Finance